7.0   THE STRATEGY (START AT TOP OF PAGE)

 

 

DESCRIBE THE STRATEGIES YOU WILL USE TO BE SUCCESSFUL.  YOU CAN TALK ABOUT OVERALL CORPORATE STRATEGY, QUALITY ASSURANCE, HR STRATEGIES, ETC.

 

THE FOLLOWING CAN BE USED AS AN INTRODUCTION

 

The overall strategy is to first prove the concept and viability of our business model, then rapidly expand across Maryland, nationally, and internationally to capture significant market share.  To do this, the firm will follow a _______________ (low cost, broad differentiation, focus, niche, etc.) strategy.  The goal of the branding strategy is to make YOUR FIRM NAME a recognizable name for all customers/client as well as other firms within the industry.  The details of the strategy are discussed in the sections that follow.

 

DESCRIBE THE VARIOUS ASPECTS OF YOUR STRATEGY

 

 

7.1       Competitive Strategy

 

DESCRIBE COMPETITIVE STRATEGY

 

 

7.2       Proving the Concept and Basic Business Model

 

The initial goal will be to convince customers/clients that YOUR FIRM NAME’s services are worth the fee.  DESCRIBE HOW THIS WILL HAPPEN.

 

By the end of the first quarter of 200___, there should be support for the business concept.  YOUR FIRM NAME expects to go cash positive in MONTH, YEAR. 

 

 

7.3       Building the Brand

 

DESCRIBE HOW YOU WILL BUILD YOUR BRAND.

 

 

Our basic strategic approach is to first prove

the business model, then use broad differentiation

to build our brand and dominate the industry. 

CHANGE AS NECESSARY

 

 

 

 

7.4       Section Heading

 

IF YOU HAVE OTHER SECTIONS, ADD THEM.

 

 

7.5       Threats and Risks

 

DESCRIBE THE 3 TO 5 MOST CRITICAL RISKS/THREATS THAT YOUR FIRM FACES AND ADDRESS THE THREATS BRIEFLY.

 

THE FOLLOWING ARE TWO EXAMPLES:

 

The biggest threat to .ComLegal is a failure to convince firms that they need this service.  In Section 4.0, the market analysis data revealed that there is a growing need and demand for the service.  With respect to .ComLegal specifically, preliminary discussions with several large e-commerce players have been positive. 

 

A secondary threat to .ComLegal is the possible emergence of a well-financed competitor capturing a large percentage of the market.  The only way to attack this threat is to leverage the intellectual capital resources of the firm and aggressively take advantage of the early mover advantage and grow the firm quickly.  Currently, there is no dominant competitor is this business space and .ComLegal believes it has the capabilities of becoming the industry leader.  Timing is critical and the top managers of the firm feel that the shelf life of the business concept is about two years.  On the other hand, unless there is a competitor who has spent or will spend significant time developing the rules and procedures for the online ADR process, it is unlikely that a competitor will be able to approach the marketplace with any comparable to .ComLegal.  Thus, it is highly likely that the window of opportunity will remain open for the firm until at least the end of 2003.